R2004-072 05-10-04 RESOLUTION NO. R2004-72
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PEARLAND, TEXAS, ACCEPTING THE CITY'S INVESTMENT REPORT
FOR THE QUARTER ENDING MARCH 2004.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS:
Section 1. That the City Council hereby accepts the City's Investment Report for
the Quarter ending March 2004.
PASSED, APPROVED, AND ADOPTED this 10th day of
May , A.D., 2004.
TOM REID
MAYOR
ATTEST:
Y•4 NG r -I'lv , Ty C
SE ' 'ETARY
APPROVED AS TO FORM:
/k CA
DARRIN M. COKER
CITY ATTORNEY
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Quarterly Investment Report
Ending as of March 31, 2004
PATTERSON & ASSOCIATES
• 1NV1.ESTMENT.'PIROFESSIONA'LS. : .
City of Pearland, Texas
Quarterly Investment Report
December 31, 2003 - March 31, 2004
The following reports are submitted in accordance with the Public Funds Investment Act (Chapter 2256). The report also offers
supplemental information not required by the Act to fully inform the City Council of the position and activity within the City of
Pearland's portfolio of investments. The reports include a management summary overview, detailed inventory report for the end of the
period, and a transaction report as well as graphic representations of the portfolio to provide full disclosure to the City Council. This
quarterly report is designed to supplement the monthly portfolio reporting made to the City every month as compiled and maintained by
the Investment Advisor, Patterson & Associates.
The City of Pearland's portfolio is managed in full compliance with the Public Funds Investment Act, the City's Investment Policy and
Strategy and under the strictest safety parameters as set by the City Council.
A copy of Section 2256.023 of the Act pertaining to Internal Management Reports is attached to this report for reference.
City of Pearland, Texas
Operating Fund Quarterly Investment Report
December 31, 2003 - March 31, 2004
Portfolio Summary Management Report
This quarterly report is in compliance with the investment policy and strategy as established by the City and the Public Funds
Investment Act (Chapter 2256, Texas Government Code).
Portfolio as of December 31, 2003 Portfolio as of March 31, 2004
Beginning Book Value $ 84,292,335 Ending Book Value $ 81,513,447
Beginning Market Value $ 84,292,932 Ending Market Value $ 81,514,572
Accrued Interest Receivable $ 35,385
Unrealized Gain/Loss $ 597 Unrealized Gain/Loss on $ 1,125
Change in Unrealized Gain/Loss $ 528
WAM at Beginning Period Date' 32 days WAM at Ending Period Date' 25 days
Change in Market Value2 $ (2,778,360)
Average Yield to Maturity for period 1.168%
Average Yield 90-day Treasury Bill for period 1.010%
P ared by:
119a i\kgpo
• of Pearland Registered nvestment Advisor
Andrea Jason, Finance Director Patterson &Associates, Linda T. Patterson, President
'WAM represents weighted average maturity.
2 Change in Market Value is required data, but will primarily reflect the receipt and expenditure of the City's funds from quarter to quarter.
City of Pearland, Texas
INVENTORY HOLDINGS REPORT
03/31/04
Settle Sec Purchase Purch Purchase Original Daily Current Market Market Original Current
Fund Date CUSIP Type Par Coupon Maturity Price Yield Principal Prem/Disc Amort Book Price Value Gain/Loss D-T-M D-T-M Amortzm
I I I I I 1 I I I I I 1 I I I I I I I I
Choice IV Public Funds' 03/31/04 14580 Sweep 3,512,538 1.170% 04/01/04 100.000 1.170% 3,512,538 0 0.00 3,512,538 100.000 3,512,538 0 1 1 0
Wells Fargo-Comp Balance 03/31/04 12726931 MM 1,900,000 0.000% 04/01/04 100.000 0.000% 1,900,000 0 0.00 1,900,000 100.000 1,900,000 0 1 1 0
Wells Fargo PPF 03/31/04 8184566092 MM 62,627,466 1.170% 04/01/04 100.000 1.170% 62,310,854 0 0.00 62,627,466 100.000 62,627,466 0 1 1 0
Cert.of Obligation'98 03/25/04 700010635 CD 4,279,977 1.021% 05/25/04 100.000 1.021% 4,279,977 0 0.00 4,279,977 100.000 4,279,977 0 61 55 0
St.Assessment-Southfork 06/10/03 FC-624079-15 CD 141,492 1.650% 06/10/04 100.000 1.650% 141,492 0 0.00 141,492 100.000 141,492 0 366 71 0
Police 07/24/03 700010316 CD 5,000 1.062% 07/23/04 100.000 1.062% 5,000 0 0.00 5,000 100.000 5,000 0 365 114 0
Water&Sewer 08/04/03 FC-625456 CD 226,875 1.650% 08/04/04 100.000 1.650% 226,875 0 0.00 226,875 100.000 226,875 0 366 126 0
Drainage 12/09/03 700010496 CD 4,911,944 1.250% 09/09/04 100.000 1.250% 4,911,944 0 0.00 4,911,944 100.000 4,911,944 0 275 162 0
Pooled 10/22/03 313396F32 FMCDN 1,000,000 0.000% 09/09/04 98.825 1.344% 988,246 11,754 36.39 994,105 99.523 995,230 1,125 323 162 5,859
Contingency 03/15/04 700010622 CD 313,867 1.250% 09/13/04 100.000 1.250% 313,867 0 0.00 313,867 100.000 313,867 0 182 166 0
Police 03/24/04 700010636 CD 5,155 1.027% 09/20/04 100.000 1.027% 5,155 0 0.00 5,155 100.000 5,155 0 180 173 0
Police 01/30/04 700010579 CD 5,027 1.024% 10/26/04 100.000 1.024% 5,027 0 0.00 5,027 100.000 5,027 0 270 209 0
Pooled 10/08/03 3128X1W78 FMCAL 2,000,000 1.300% 11/02/04 99.980 1.319% 1,999,600 400 4.35 2,000,000 100.000 2,000,000 0 391 216 400
Economic Development 03/10/04 FC-617313 CD 500,000 1.550% 03/10/05 100.000 1.550% 500,000 0 0.00 500,000 100.000 500,000 0 365 344 0
Accrued Compensation 03/19/04 FC-617412 CD 40,000 1.350% 03/19/05 100.000 1.350% 40,000 0 0.00 40,000 100.000 40,000 0 365 353 0
St.Assessment 03/19/04 FC-609260 CD 50,000 1.350% 03/19/05 100.000 1.350% 50,000 0 0.00 50,000 100.000 50,000 0 365 353 0
GRAND TOTAL: $1519.342 1.151%, $1.190.576 B1613.447 $1.514.57Z L12 la 4ak52
t Choice IV Public Funds Plus Account is the City of Pearland's sweep investment.
Maturity Break 70,000,000 Asset Break
by Book Value by Book Value 70,000,000
60,000,000- -
60,000,000-
50,000,000-
Sweep 3,512,538 AN 2,000,000 50,000,000-
Money Market 64,527,466 40,000,000- AD 994,105 a0,000,000-
Texpool 0 30,000,000- CD 10,479,337
0-3 mos 4,421,469 Texpool 0 30,000,000-
3-6 mos 6,456,947 20,000,000- Money Market 64,527,466 zo,000,000-
6-9 mos 2,005,027 10,000,000- Sweep 512,538
9-12 mos 590,000 0 17-71 1 l 1 i lli1 t n t „ 1 - I 10,000,000-
0 '--' I I" '-' I I i 1=1
1-2 yrs 0 Sweep Money Texpool 0-3 mos 3-6 mos 6-9 mos 9-12 1-2 yrs AN AD CD Texpool Money Sweep
81.511.447 Market mos D 1.513.447
Market
CITY OF PEARLAND, TEXAS
Quarterly Portfolio Change - General Revenue Fund
Portfolio Assets as of 12/31/03 Portfolio Assets as of 3/31/04
CD CD
14.8% 12.9%
Sweep
5.3% Sweep
4.3%
A-Note A-Note
2.4% D-Note 2.5% D-Note
1.2% 1.2%
Money Market Money Market
76.3% 79.2/0
Average Portfolio Yield : 1.231% Average Portfolio Yield: 1.168%
Average Portfolio Maturity: 32 days Average Portfolio Maturity: 25 days
% Maturing within 3 months: 90% %Maturing within 3 months: 89%
City of Pearland, Texas Page I of 2
Quarterly Position Change Report
03/31/04
Beginning Beginning Ending Ending
Settle Sec Book Value Market Value Book Value Market Value
Fund Date CUSIP Type Par Coupon Maturity 12/31/03 12/31/03 03/31/04 03/31/04
I I I I I I I I I I I 1
Marketable Securities:
Police 08/01/03 700010315 CD 0 1.077% 01/30/04 5,000 5,000 0 0
Cert.of Obligation'98 11/24/03 700010473 CD 0 0.997% 02/24/04 529,912 529,912 0 0
Cert. of Obligation'98 11/24/03 700010470 CD 0 0.997% 02/24/04 2,971,745 2,971,745 0 0
Cert. of Obligation'98 11/24/03 700010475 CD 0 0.997% 02/24/04 2,775,224 2,775,224 0 0
Economic Development 03/10/03 FC-617313 CD 0 1.860% 03/10/04 500,000 500,000 0 0
Contingency 06/19/03 700010251 CD 0 1.220% 03/15/04 311,080 311,080 0 0
Accrued Compensation 03/19/03 FC-617412 CD 0 1.860% 03/19/04 40,000 40,000 0 0
St.Assessment 03/19/03 FC-609260 CD 0 1.860% 03/19/04 50,000 50,000 0 0
Police 11/24/03 700010472 CD 0 0.997% 03/24/04 5,138 5,138 0 0
Cert.of Obligation'98 03/25/04 700010635 CD 4,279,977 1.021% 05/25/04 0 0 4,279,977 4,279,977
St.Assessment-Southfork 06/10/03 FC-624079-15 CD 141,492 1.650% 06/10/04 141,492 141,492 141,492 141,492
Police 07/24/03 700010316 CD 5,000 1.062% 07/23/04 5,000 5,000 5,000 5,000
Water&Sewer 08/05/03 FC-625456 CD 226,875 1.650% 08/04/04 235,936 235,936 226,875 226,875
Drainage 2002 12/09/03 700010496 CD 4,911,944 1.250% 09/09/04 4,911,944 4,911,944 4,911,944 4,911,944
Pooled 10/22/03 313396F32 FMCDN 1,000,000 0.000% 09/09/04 990,794 991,356 994,105 995,230
Contingency 03/15/04 700010622 CD 313,867 1.250% 09/13/04 0 0 313,867 313,867
Police 03/24/04 700010636 CD 5,155 1.027% 09/20/04 0 0 5,155 5,155
Police 01/30/04 700010579 CD 5,027 1.024% 10/26/04 0 0 5,027 5,027
Pooled 10/08/03 3128X1W78 FMCAL 2,000,000 1.300% 11/02/04 1,999,965 2,000,000 2,000,000 2,000,000
Economic Development 03/10/04 FC-617313 CD 500,000 1.550% 03/10/05 0 0 500,000 500,000
Accrued Compensation 03/19/04 FC-617412 CD 40,000 1.350% 03/19/05 0 0 40,000 40,000
St.Assessment 03/19/04 FC-609260 CD 50,000 1.350% 03/19/05 50,000 50,000
Total Marketable Securities: 13,479,337 15,473,231 15,473,828 13,473,442 13,474,567
Patterson&Associates
City of Pearland, Texas Page 2 of 2
Quarterly Position Change Report
03/31/04
Beginning Beginning Ending Ending
Settle Sec Book Value Market Value Book Value Market Value
Fund Date CUSIP Type Par Coupon Maturity 12/31/03 12/31/03 03/31/04 03/31/04
I I _I I I I I I I I I I
Cash Positions: Pooled Investments:
Choice IV Public Funds 03/31/04 14580 Sweep 3,512,538 1.170% 04/01/04 4,475,722 4,475,722 3,512,538 3,512,538
Wells Fargo-Comp Balance 03/31/04 12726931 MM 1,900,000 0.000% 04/01/04 1,900,000 1,900,000 1,900,000 1,900,000
Wells Fargo PPF 03/31/04 8184566092 MM 62,627,466 1.170% 04/01/04 62,443,381 62,443,381 62,627,466 62,627,466
Total Pooled Investments: 68,040,004 68,819,104 68,819,104 68,040,004 68,040,004
Total Marketable Securities&Pooled Investments: 81,519,341 84,292,335 84,292,932 81,513,447 81,514,572
Patterson&Associates
City of Pearland, Texas
Quarterly Transaction Report
January 1,2004 to March 31,2004
PURCHASES:
Settle Sec Purchase Purch Purchase Purch Total
Fund Date CUSIP Type Par Coupon Maturity Price Yield Principal Accr/Int Settlement Broker Safekept
;
Cert.of Obligation'98 02/23/04 700010602 CD 4,276,254 1.025% 03/25/04 100.00 1.025%, 4,276,254.02 0.00 4,276,254.02 Pearland State TIB/Pearland State
Economic Development 03/10/04 FC-617313 CD 500,000 1.550% 03/10/05 100.00 1.550% 500,000.00 0.00 500,000.00 First Community First Community
Contingency 03/15/04 700010622 CD 313,887 1.250% 09/13/04 100.00 1.250% 313,886.90 0.00 313,886.90 Pearland State TIB/Pearland State
Accrued Compensation 03/19/04 FC-617412 CD 40,000 1.350% 03/19/05 100.00 1.350% 40,000.00 0.00 40,000.00 First Community First Community
Street Assessment 03/19/04 FC-609260 CD 50,000 1.350% 03/19/05 100.00 1.350% 50,000.00 0.00 50,000.00 First Community First Community
Police 03/24/04 700010636 CD 5,155 1.027% 09/20/04 100.00 1.027% 5,155.43 0.00 5,155.43 Pearland State TIB/Pearland State
Cert.of Obligation'98 03/25/04 700010635 CD 4,279,977 1.021% 05/25/04 100.00 1.021% 4,279,976.70 0.00 4,279,976.70 Pearland State TIB/Pearland State
MATURITIES AND COUPONS:
Payment Security Type of Coupon
Fund Date CUSIP Type Par Coupon Maturity Payment Payment Total
Police 01/30/04 700010315 CD 5,000 1.077% 01/30/04 Maturity 26.86 5,026.86
Cert.of Obligation'98 02/23/04 700010471 CD 2,971,745 0.997% 02/23/04 Maturity 7,383.82 2,979,129.21
Cert.of Obligation'98 02/23/04 700010473 CD 529,912 0.997% 02/23/04 Maturity 1,316.66 531,228.83
Cert.of Obligation'98 02/24/04 700010475 CD 2,775,224 0.997% 02/23/04 Maturity 6,971.30 2,782,195.49
Economic Development 03/10/04 FC-617313 CD 500,000 1.860% 03/10/04 Maturity 9,325.48 509,325.48
Contingency 03/15/04 700010251 CD 311,080 1.220% 03/15/04 Maturity 2,806.70 313,886.65
Accrued Compensation 03/19/04 FC-617412 CD 40,000 1.860% 03/19/04 Maturity 746.04 40,746.04
Street Assessment 03/19/04 FC-609260 CD 50,000 1.860% 03/19/04 Maturity 932.55 50,932.55
Police 03/24/04 700010472 CD 5,138 0.997% 03/24/04 Maturity 17.12 5,155.43
Cert.of Obligation'98 03/25/04 700010602 CD 4,276,254 1.025% 03/25/04 Maturity 3,722.68 4,279,976.70